Wednesday, November 9, 2011

Market Timing Update (11/9/11)

Note - Each count is usually color coded.
[EOD]Stocks -
At the end of the day, we have a 5-3-5 decline. Chart 1 shows the tracking counts and rough location of the potential bottom, including today's low.

(Subjective) primary count remains wave X (blue), followed by wave 2 (green), followed by the bearish count (red).

[920 am]  DAX and FTSE update -

[710 am]  ES update -
Pullback to complete X-down of (B)/(2)-up likely has started overnight (Chart 1, ES).  Technically, it's nice to see an EDT playing out once (in a long while) as discussed in yesterday's 340pm entry and this chart therein. As discussed, it's prudent to leave room for the larger bullish count with the overnight high being 1-up since the October low - better seen in INDU.

Squiggle count on ES since the November low is shown in Chart 2.  The green bullish count is for entertainment purposes, if nothing more.
blog comments powered by Disqus